India

Securities / Derivatives

IFSCA Mulls Introduction of VCC Structure in GIFT City

By Editors | 08/12/2022

An expert committee set up by the IFSCA in 2020 has proposed a legal framework for introducing the VCC structure for funds operating in GIFT City.

Capital / Liquidity

RBI Issues Revised Regulatory Framework for UCBs

By Editors | 08/12/2022

The four-tiered regulatory framework for UCBs will allow the RBI to prescribe more differentiated requirements based on size.

Fintech / Regtech

NPCI Extends UPI Market Cap Compliance Deadline to End 2024

By Mark Johnston | 07/12/2022

The NPCI has for the third time extended its compliance deadline for imposing a 30 percent market cap limit on UPI payment apps.

ESG / Sustainability

SEBI Planning Regulatory Changes in the ESG Space

By Sanday Chongo Kabange | 07/12/2022

SEBI is planning to simplify its BRSR framework to take into account local market conditions, mandate ESG audits, and regulate ESG rating providers.

Market Infrastructure

RBI Adds Modified MIFOR to List of Significant Benchmarks

By Editors | 05/12/2022

The Modified MIFOR curve will replace the FBIL MIFOR curve for new contracts, using Adjusted SOFR instead of USD LIBOR.

Securities / Derivatives

SEBI Instructs Fund Managers to Monitor Telegram for Name Misuse

By Editors | 05/12/2022

SEBI said some Telegram groups were impersonating mutual fund houses and has instructed AMCs to put in place monitoring to detect such activity.

RBI Relaxes Rules on Bank Dealings in Overseas Financial Products

By Sanday Chongo Kabange | 05/12/2022

Indian banks, through their overseas operations, are now allowed to undertake activities that would not be permitted in the domestic market.

Crypto / Digital Assets

RBI Launches Pilot to Test CBDC with Consumers, Merchants

By Editors | 02/12/2022

The participating banks are State Bank of India, ICICI Bank, Yes Bank, IDFC First Bank, Bank of Baroda, Union Bank of India, HDFC Bank and Kotak Mahindra Bank.

Market Infrastructure

Full Launch of SGX-NSE Trading Link Planned for Q2 2023

By Editors | 01/12/2022

The trading link enables orders from SGX members to be routed to NSE IFSC for trading and execution. To date, 14 SGX clearing members have been onboarded.